And they're still not out of it. Heading into the weekend, the Pacers are only two games behind front-runners New Jersey and Detroit and a game astern of third-place Philadelphia. They are a lock to have homecourt advantage for the first round at least, which, given their play at Conseco Fieldhouse, should augur well for Isiah Thomas and the fellows.

The Pacers typify the wild, whacky conference, which, unfortunately, will send one team to the NBA Finals for the ritual bludgeoning at the hands of the (pick a team.) They've had a losing record for two months, cresting at 37-15 following a Valentine's Day triumph over the Hawks. They were No. 1 in the conference at that point. Since then, they're a humdrum, oh-so-Eastern Conference 9-17 and, guess what? They're still close to being No. 1.

That's right: They've won nine games in two months and, basically, have not lost a whole lot of ground or leverage. They even appeared to be the proverbial "over-the-hump'' following the signing of Tim Hardaway (five wins in six games) until they went into Chicago and delivered a major stink bomb against the Bulls.

Making up two games when there are only four to play is a daunting task and, given Indiana's ongoing road woes, probably not going to happen. The Pacers would have to run the table in all likelihood -- then again, this is the East -- and that would necessitate road wins in Milwaukee and New York as well as a closing win at home over the Nets. But there's still a chance and, let's face it, is there anyone out there who does not believe that this team, when healthy is, top to bottom, the most talented ensemble in the conference?

Because of that, I still like their chances coming out of the East simply because of their depth and their ability to win at home (31-8, second only to New Jersey.) I'd like to think that the Pacers we saw over the first 52 games is closer to the real Indiana team than the one we've seen in the last 26.

Their tumble coincided with the on-again, off-again Rodmanian behavior of Ron Artest as well as family problems for several others, including Jamaal Tinsley, whose mother's battle with cancer hasn't helped his sophomore slump. Injuries played a part as well.

I'd feel better about their chances if they weren't so awful on the road, where their 15-24 record is the worst among the likely eight playoff teams in the East. But they've shown a tendency in the past two years to play tough on the road in the postseason, especially last year when they won once in New Jersey and then nearly stole Game 5 in the Meadowlands as well.

	Ron Artest, left, has to keep his cool in the playoffs.

But they need to have all their pieces intact. When Thomas can summon healthy reserves like Al Harrington, Ron Mercer, Jeff Foster, Erick Strickland, Austin Croshere, Jonathan Bender and Hardaway, he will have an advantage in the East over all others. He also has a roster that must have the new guys in Charlotte drooling; they'll definitely get a player off this list.

He's also got the best big man in the East in Jermaine O'Neal, whose acquisition remains one of team builder Donnie Walsh's best moves. O'Neal will again represent the U.S. in international competition; he's the only one from the discredited World Championship group to get an invite to Puerto Rico and, in all probability, Athens. (And he really had only had one good game in the Worlds.)

There's also the presence of Reggie Miller, who is headed to free agency and challenged his younger teammates to devote themselves solely and tirelessly to a successful season. Through Valentine's Day, it sure looked like the kids had listened to the gray eminence. Since then, it's been Denver interrupted.

Normally, you look at teams (like the Sixers, for instance) who are playing well as the postseason approaches as favorites to move forward. But you have to think the Pacers' slide is one that can be reversed with healthy bodies and, in Artest's case, healthy minds. And they have won five of their last seven, even if they did have that burp at the United Center.

At midseason, I picked the Pacers to make it out of the East -- then watched them fall like the value of the Argentine peso. But we are constantly reminded along the way that seasons are not sprints; they're marathons. A strong finish to the end could put Indiana right back where it was two months ago, looking down at the rest of the East and looking forward to the homecourt advantage in a building where they play very well.

It'd be nice to see Reggie Miller get one more shot at a ring; not that he'll get one this year, but it'd be nice to see him have the opportunity. It'd be interesting to see how Artest handled the spotlight and attention -- and even better to see how he handled Kobe Bryant (assuming the Lakers get there, of course, which is no guarantee.)

This all could still happen. Two months ago, we figured it would happen. A month ago, we figured Indiana had as much of a chance as Cleveland. Now, they're back (sort of) and the top spot is still up for grabs. Even if they don't get it, they still have the best roster of anyone in the conference. At some point, that's got to make a difference and, for Indiana, that point is fast arriving.

Peter May, who covers the NBA for the Boston Globe, is a regular contributor to ESPN.com.